Bitcoin price analysis shows BTC price headed towards $9000

The king of cryptocurrency Bitcoin (BTC) is being the king once again and seems to be acting at will. Bitcoin price analysis, by major analysists, reveals an imminent bearish drop to nine thousand dollars ($9000) price range.

On the 6th of September, BTC price had hit the highest point when it went over the ten thousand and nine hundred dollars ($10,900) mark.

However, that didn’t last long, and it quickly fell back down within six hours to the low point of ten thousand two hundred and twenty dollars ($10,220) by the time the day ended.

At the time of writing, BTC price has leveled back up to the ten thousand three hundred and fifty-one dollars ($10,351) mark. However, the Bitcoin price analysis by two different analysts on Trading View reveals that the king of cryptocurrency is in for a head-on crash below the nine thousand dollars ($9000) mark.

The Excavo chart shows the current support line standing at the ten thousand two hundred and sixty-nine dollars ($10269), but that is just the tip of the iceberg.

The chart also shows that the BTC price is in for an imminent crash. However, it would take longer than seven (7) days to drop below the nine thousand dollars ($9000) mark.

According to the Excavo chart, by November 2019, Bitcoin price would be trading somewhere between six thousand dollars ($6000) and nine thousand dollars ($9000).

Bitcoin is quickly gaining more support in the wake of Hong Kong protests and Twitter chief Jack Dorsey endorsing his love for the king but the price action remains volatile keeping traders either away from it or in a state of lockdown.

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Journalist, Writer, Editor, Researcher, and Strategic Media Manager With over 10 years of experience in the digital, print and public relations industries, Saad has been working with the mantra, Creativity, Quality and Punctuality. In his waning years promises to build a self-sustaining institute that provides free education. Carrying a diverse portfolio he has studied and written on topics related to cyber crimes, scams, blockchain, and cryptocurrencies.